RealReal (NASDAQ:REAL) Shares Down 7% – Time to Sell?
by Danessa Lincoln · The Markets DailyThe RealReal, Inc. (NASDAQ:REAL – Get Free Report)’s stock price traded down 7% on Thursday . The company traded as low as $5.43 and last traded at $5.45. 717,769 shares changed hands during trading, a decline of 79% from the average session volume of 3,414,672 shares. The stock had previously closed at $5.86.
Wall Street Analysts Forecast Growth
REAL has been the subject of several recent research reports. Northland Securities lifted their target price on shares of RealReal from $6.50 to $12.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised shares of RealReal from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $4.00 to $15.00 in a report on Monday, December 9th. Finally, UBS Group cut their price target on RealReal from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, RealReal currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.
Get Our Latest Stock Report on REAL
RealReal Price Performance
The stock has a market cap of $614.86 million, a P/E ratio of -4.28 and a beta of 3.00. The firm’s fifty day moving average price is $8.08 and its two-hundred day moving average price is $5.89.
RealReal (NASDAQ:REAL – Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.52). The business had revenue of $164.00 million during the quarter, compared to analyst estimates of $162.69 million. On average, research analysts expect that The RealReal, Inc. will post -0.4 earnings per share for the current fiscal year.
Insider Buying and Selling at RealReal
In related news, insider Luke Thomas Friang sold 18,503 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $6.90, for a total value of $127,670.70. Following the transaction, the insider now owns 556,557 shares of the company’s stock, valued at $3,840,243.30. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Koryl sold 396,478 shares of RealReal stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $9.61, for a total value of $3,810,153.58. The disclosure for this sale can be found here. Insiders sold a total of 654,761 shares of company stock worth $5,592,306 over the last three months. 9.78% of the stock is owned by insiders.
Hedge Funds Weigh In On RealReal
Several institutional investors have recently modified their holdings of the company. Quarry LP boosted its stake in RealReal by 120.1% in the fourth quarter. Quarry LP now owns 2,875 shares of the company’s stock worth $31,000 after buying an additional 1,569 shares in the last quarter. R Squared Ltd purchased a new stake in shares of RealReal in the 4th quarter valued at $49,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of RealReal in the 4th quarter valued at $94,000. Jag Capital Management LLC bought a new position in shares of RealReal during the 4th quarter valued at $126,000. Finally, PharVision Advisers LLC purchased a new position in RealReal in the 4th quarter worth $133,000. 64.73% of the stock is currently owned by institutional investors.
About RealReal
The RealReal, Inc operates an online marketplace for resale luxury goods in the United State. The company offers various product categories, including women's fashion, men's fashion, jewelry, and watches. It primarily sells products through online marketplace and retail stores. The company was incorporated in 2011 and is headquartered in San Francisco, California.
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